Crypto is in a stalemate right now.

Everyone wants to bring new people onchain but 99% of volume is still driven by the same cohort of ~25,000 crypto-native users.

I'm not seeing real interest or demand from people to "get into crypto" and the most successful apps (like Polymarket) don't have any downstream effects which makes those users want to check out other crypto apps or go deeper down the rabbit hole.

More and more my friends simply net out at "buy Bitcoin" and frankly I don't think that's a bad take given how safe a bet it is relative to the slaughterhouse that's the memecoin trenches.

Anyone else feeling this too?